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Is the payout subject to the people who funded it getting their fees first? Or is the £400 projected already taking that into account?
Merricks’s action was initially financed by Chicago-based litigation funder Gerchen Keller Capital, which the Law Society Gazette said would make whatever was the greater of £135m or 30% of the proceeds of the case up to £1bn, plus 20% of the proceeds over £1bn.
A new funder, Innsworth Litigation Funding, has taken on the case. It is understood it will receive a share of whatever is left if not every person in the class action lawsuit makes a claim.
branwen
You don't even need to have been a MasterCard customer. The case is that MasterCard's illegal transaction fees made the price of products go up for all consumers, no matter how they paid.
It is the first ever example of a UK "opt out" group claim on behalf of affected adult consumers during the period in question. So, if it is upheld at the Supreme Court, and you are in the affected cohort, you are eligible for a pay out.
Tori is counsel for the claimant.